I think the single most important advancement that TJ can make in the area of charting is to open up the API. so that people can make their own customization without large sacrifice of speed. For example, I would love to have more Fib levels than 10. but I can't do it currently. Pitchfork is another good example. auto pitchfork would be an extremely powerful tool on read time data but that doesnt happen unless TJ wants it done/ or API is available to someone who needs it to do it themselves.
_____ From: [email protected] [mailto:[EMAIL PROTECTED] On Behalf Of Herman Sent: Tuesday, 19 August 2008 10:49 AM To: malc fiveeightninenine Cc: [email protected] Subject: Re[2]: [amibroker] 'Rule Based' versus 'Discretionary' trading... It may be that the selection of either rule-based trading (Quantitative trading?) or descretionary trading is mostly determined by the personal background of the trader. We have many AB users in this forum who have a technical background, for those it would seem natural to concentrate on the true technical analysis (this goes far beyond using traditional indicators!) of market data. They would probably prefer rule based trading. On the other hand we have many users who have exceptional market related experience and who have the ability to understand why things happen or are going to happen. Many such events cannot be translated into code. This group might prefer descretionary trading. Then there is the enjoyment factor: do you like to write code or do you like to read financial papers? I suspect traders in both groups can do very well :-) then of course there is any mix of the two groups... Best regards, herman Monday, August 18, 2008, 6:03:00 PM, you wrote: > I love the idea of a discussion about rules based vs discretionary trading. Thank you for suggesting it. For the past 5 years I have been running a rules based automatic trading system. However before that I used to be a discretionary day trader on a trading floor. These trades were based upon whatever the news of the day was. I personally believe that if you practice, and become good at it, discretionary trading should be more profitable than any rules only computer system just as a expert chess player with the help of a computer program should be able to beat that same computer program alone. The problem is that it takes a special skill that must be learned, and then tailored to the traders personality, and a source of good real time information to act upon. Most people do not have the time, and patience required to build a good rules only system, let alone a discretionary one that also takes advantage of a rules system. As for the fact this forum basically is about rules based systems only, that is the nature of a computer backtesting program such as Amibroker. --- On Tue, 8/19/08, Tomasz Janeczko <[EMAIL PROTECTED]> wrote: From: Tomasz Janeczko <[EMAIL PROTECTED]> Subject: Re: [amibroker] 'Rule Based' versus 'Discretionary' trading... To: [email protected] Date: Tuesday, August 19, 2008, 2:33 AM Hello, Not wanting to hijack this thread but whenever I ask about some itemized list of what is exactly "weak" in AB charting, I don't receive any meaningful reply. I would really want to know some objective list instead of statements I heard on ET that "charts are ugly" which for me unfortunatelly means nothing, considering the hunderds of ways charts can be customized according to user taste in AB. Best regards, Tomasz Janeczko amibroker.com ----- Original Message ----- From: "sidhartha70" <sidhartha70@ <mailto:sidhartha70%40yahoo.com> yahoo.com> To: <[EMAIL PROTECTED] <mailto:amibroker%40yahoogroups.com> ps.com> Sent: Monday, August 18, 2008 9:16 PM Subject: [amibroker] 'Rule Based' versus 'Discretionary' trading... > Thought I'd try and start a discussion on this very important topic... > > Over the years I seem to have come full circle... back in 1994 > starting as a largely discretionary trader, I moved into 'rule based' > systems while working for Merrill Lynch back in 1997. I spent about 7 > years trading various types of rule based system. All variations on > statistical arbitrage themes. > > Over recent years I have migrated away from rule based trading back to > discretionary, and find myself developing some quite strong opinions > about rule based trading (opinions which I happy to have changed!!!). > > One thing that strikes me about this forum is the focus on 'rule > based' trading and backtesting/ optimization of systems. Perhaps this > relates to the grounding of the product. I have been an owner of > AmiBroker for about 5 months now I guess... and it seems to me it's > strengths lie in backtesting & optimization (if only I had a product > like this back in 1997 my life would have been an absolute joy). > However, it's weaknesses seem to lie in it's charting (as has been > commented on a couple of reviews on Elite Trader) and particualrly the > openness & adaptability of it's charting framework. > > Anyway, I'd love to start an open discussion on 'rule based' versus > 'discretionary' ... Pros, cons, differences, potential returns from > each route, does one route lead to the other etc..etc... > > I'm very much wanting to learn from opening this subject up. > > > ------------ --------- --------- ------ > > Please note that this group is for discussion between users only. > > To get support from AmiBroker please send an e-mail directly to > SUPPORT {at} amibroker.com > > For NEW RELEASE ANNOUNCEMENTS and other news always check DEVLOG: > http://www.amibroke <http://www.amibroker.com/devlog/> r.com/devlog/ > > For other support material please check also: > http://www.amibroke <http://www.amibroker.com/support.html> r.com/support. html > Yahoo! Groups Links > > >
